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4. [3/4 Points] DETAILS PREVIOUS ANSWERS TEAFM2 F.3.022. MY NOTES New parents wish to save for their newborn's education and wish to have $49,000 at the end of 18 years. How much should the parents place at the end of each year into a savings account that earns an annual rate of 7.7% compounded annually? (Round your answers to two decimal places.) $ 1,347.08 How much interest would they earn over the life of the account? $ 24,752.51 Determine the value of the fund after 8 years. $ 14,174.04 How much interest was earned during the 8th year? $ 726.08 Additional Materials eBook